Transition to value-based care, growing quality reporting requirements and acceptance of cloud platforms to drive the adoption of quality management solutions in the healthcare, thus propelling the Healthcare Quality Management Market.
Healthcare data is not only growing exponentially in terms of volume, but also rapidly increasing in terms of complexity, sources, and applications. This has led to the development of advanced solutions such as analytics, population health management tools and quality management solutions to help healthcare providers, payers and ACOs to turn raw data into actionable insights, take data-driven decisions, and improve quality of care while reducing avoidable costs.
According to the latest publication from Meticulous Research™, global Quality Management in Healthcare Market will grow at a CAGR of 15% from 2018 to 2023 to reach USD 3,698.1 million by 2023.
The report states that the growth in this market is mainly attributed to “the government initiatives to improve patient outcomes & safety, rising unstructured data in healthcare, rising geriatric population & burden of chronic diseases, and improving health IT infrastructure”.
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Geographically, the North American region is the largest market for quality management solutions in the healthcare market. This region is expected to continue its dominance in the global market with “the implementation of Affordable Care Act (ACA) in the U.S., stringent legislative and accreditation requirements regarding healthcare quality reporting, shift from fee-for-service to value-based reimbursements, growing patient data volume, high awareness and adoption of healthcare IT technologies, regulatory requirements to minimize medical errors and clinical risk, and presence of a large number of healthcare IT companies in the region.”
The key players in global quality management in the healthcare market are McKesson Corporation, Medisolv, Inc., Nuance Communication, Inc., Quantros, Inc., Dimensional Insight, Inc., Dolbey Systems, Inc., Verscend Technologies, Inc., MedeAnalytics, Inc., Citiustech Inc., Conduent, Inc., ArborMetrix, Inc. (Change Healthcare), Altegra Health, General Dynamics Health Solutions, Cognizant Technology Solutions Corporation, 3M Company, Truven Health Analytics (IBM Watson Health), and Persivia, among others.
Scope of the report
Market by Software Type:
- Business Intelligence &Analytics
- Physician Quality Reporting Solutions
- Clinical Risk Management Solutions
- Provider Performance Improvement Solutions
Market by Mode of Delivery:
- Web & Cloud-based solutions
- On-premise solutions
Market by Application:
- Data Management
- Data Processing & Analysis
- Unstructured Data Abstraction
- Report Generation & Regulatory Submission
- Risk Management
Market by End User:
- Ambulatory Care Centers
- Healthcare Payers
- Government bodies& Others
Market by Geography:
- North America
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Rest of APAC (RoAPAC)
- Rest of the World
- Latin America
- Middle East & Africa
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